Ford and Tesla Face Earnings Declines in Q2 2024 Amid Evolving EV Market
In Q2, Ford reported a 35% dip in earnings, with a positive revenue trend. The company anticipates significant losses from EVs but projects promising 2024 figures.
Ford's EV and hybrid sales surged, while F-series truck sales slightly dropped. Meanwhile, Tesla saw a 45% profit decrease, struggling with slowing EV sales and rising competition.
Ford's CEO aims to introduce more affordable EVs despite the popularity of larger vehicles. The shift in consumer preference poses challenges for automakers, with Ford investing in gas-oriented models.
Both companies navigate the evolving landscape with cautious optimism amidst pressure from investors and market dynamics.
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